Capital Actions

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Capital Actions

Capital Actions

Accelerated Share Repurchase Transactions

During the nine months ended September 30, 2024, the Bancorp entered into and settled accelerated share repurchase transactions. As part of these transactions, the Bancorp entered into forward contracts in which the final number of shares delivered at settlement was based on a discount to the average daily volume weighted-average price of the Bancorp’s common stock during the respective terms of each repurchase agreement. Each accelerated share repurchase was treated as two separate transactions, (i) the repurchase of treasury shares on the repurchase date and (ii) a forward contract indexed to the Bancorp’s common stock.

The following table presents a summary of the Bancorp’s accelerated share repurchase transactions that were entered into and settled during the nine months ended September 30, 2024:

Repurchase Date	Amount ($ in millions)		Shares Repurchased on Repurchase Date	Shares Received from Forward Contract Settlement	Total Shares Repurchased	Final Settlement Date
June 12, 2024	$	125	3,011,621	496,767	3,508,388	June 27, 2024
July 23, 2024	200		4,160,548	713,340	4,873,888	August 5, 2024

For further information on a subsequent event related to capital actions, refer to Note 25.